SEOUL, June 25 (Korea Bizwire) — Major South Korean battery makers are tipped to post strong quarterly profits in the second quarter, continuing the robust growth on the back of solid demand in North America and tax benefits from a new U.S. law on green energy, industry data showed Sunday. Top player LG Energy Solution [...]
SEOUL, June 24 (Korea Bizwire) — SK Innovation Co., South Korea’s leading energy company, said Friday it will raise 1.18 trillion won (US$901 million) by issuing new shares, in an effort to secure funds for investment in green energy. The board approved the plan to sell 8.19 million common shares, or 8.7 percent of the [...]
SEOUL, June 23 (Korea Bizwire) — L&F Co., a South Korean manufacturer of secondary battery materials, said Friday it has clinched a preliminary agreement with Japan’s Mitsubishi Chemical Group to collaborate on the supply of battery-grade anode materials, one of the four key components for electric vehicle (EV) batteries. The memorandum of understanding, signed Thursday, [...]
SEOUL, June 22 (Korea Bizwire) — SK On Co. said Thursday its joint venture with Ford Motor Co. has obtained preliminary approval for a loan of up to US$9.2 billion from the U.S. government, funding that will help them forge ahead with their megaproject to build three battery plants in America. BlueOval SK, the SK [...]
SEOUL, June 22 (Korea Bizwire) — An international consortium led by South Korea’s top steel maker POSCO Holdings Inc. has won a project to develop and build a large-scale green hydrogen plant in Oman, POSCO Holdings said Thursday. The deal, signed between the consortium and Hydrogen Oman in the Omani capital of Muscat a day [...]
SEOUL, June 21 (Korea Bizwire) — POSCO Holdings Inc. said Wednesday it is spending 1.5 trillion won (US$1.16 billion) with a Chinese partner to build factories in South Korea to produce nickel and precursor for secondary batteries. POSCO Holdings and POSCO Future M Co., the chemicals and materials-producing unit of the steel giant, signed the [...]
SEOUL, June 16 (Korea Bizwire) – LS Corp., the holding company of electric power equipment enterprise LS Group, said Friday it is teaming up with a local battery materials producer to build a plant in South Korea for battery precursors. LS Corp. said it and L&F Corp., a Daegu-based producer of cathodes for lithium-ion batteries, [...]
GUNSAN, June 16 (Korea Bizwire) — The Saemangeum Development and Investment Agency said Thursday it has signed an investment agreement with local firm EDL for the construction of a lithium salt production plant in Saemangeum, a reclaimed area on the southwest coast of the country. EDL plans to invest a total of 600 billion won [...]
SEOUL, June 14 (Korea Bizwire) — South Korea’s top steelmaker POSCO Holdings Inc. is set to construct the nation’s inaugural plant that utilizes lithium carbonate for the production of secondary battery materials. The company announced on Tuesday that it held a groundbreaking ceremony for a lithium hydroxide plant at the Yulchon Industrial Complex in Gwangyang, [...]
SEOUL, June 13 (Korea Bizwire) — Samsung SDI Co. will build an electric vehicle (EV) battery manufacturing facility in Indiana in a joint venture with General Motors Co., the South Korean battery maker said Tuesday. The 2.65 million-square-meter plant is planned to go up in the New Carlisle area in the central U.S. state, according [...]